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April 21, 2021  
 
 
  Business Loan Information  
 

Cowarts, Alabama Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Cowarts, Alabama! If that's what's on your mind, you've come to the right place.

If you are hoping to get a small business loan and your business is based in Cowarts, Alabama, we've put together a list of local small business banks that you should contact.

Business Loan Providers for Cowarts Businesses

This is a list of banks outside of Cowarts, Alabama that have provided SBA loans to Cowarts businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Ameris Bank
Eufaula, AL
1
Slocomb National Bank
Slocomb, AL
1
Sunsouth Bank
Dothan, AL
1
The Headland National Bank
Headland, AL
1

Cowarts Bank Loan Tips

Prior to reaching out to banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will check on your personal credit history in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read 504 Loans.

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